The prices in real estate in Kitchener, in the Ontario region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.feet in Kitchener has increased strongly during the last 6 months. In September, the average price per sq.feet was $503. In the following month the price per sq.feet increased considerably to $54,837. The price for the following two months in (November, December) had a considerable increment of 214 %. The price per sq.feet has had a considerable deflation of 1 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $43,435.75 to $579.5 during January, and February.
Based upon to the price in Kitchener (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during September, is $657,799. During October the price went through a considerable rise reaching $778,363. In the following two months the average price has remained the same with regard to the previous two months from $718,081 to $748,546. Based on an analysis of the first four prices and the last two months the average price has risen strongly 116 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $859,206 they are 48 % more affordable than the average price for Kitchener. The properties with the highest average price have 4 bedrooms, Their price is 41 % more costly than the average. After that we have properties with 3 bedrooms priced at $800,754.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $533 / sq.feet, with an average $576 / sq.feet price in Kitchener. The properties with the highest average prices have 1 bedroom. They are 15 % more expensive than the average followed by properties with 2 bedrooms with a price at $595 / sq.feet.
The graph displaying the average prices displays the property type "Office" as the most affordable one. At an cost of $859,206 it is 48 % cheaper than the average price in Kitchener. "Condo" is seen as the second most affordable property type. The dearest property type is "Townhouse" followed by "House". At a price of $1,113,947 it is 1040 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Condo" at an average cost of $571 / sq.feet followed by "House" priced at $585 / sq.feet. "Townhouse" is the most costly type of property with a $8,465,225 / sq.feet cost followed by "Office" with an average price of $73,331 / sq.feet.